外贸英语-汇率与国际贸易-exchange rate and international trade
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it were allowed to float freely, China caps its rise by buying dollars and selling yuan. This relentless dollar accumulation led to China’s foreign exchange reserves growing to a record over $3 trillion.
• 意群提示：反应（be refelctive of) • Sometimes, when a local currency reflects its true value against its
pegged currency, a "black market" (which is more reflective of actual supply and demand) may develop.
VI. Critical thinking
• (2) Why Chinese central bank has a large foreign exchange reserve? • In order to maintain the rate, the central bank must keep a high level of
VII. Language Application: Translate the following into Chinese
• 1. The U.S. has suffered a great deal in the past three years due to high unemployment. At present, American politicians and businessmen have found a scapegoat for their troubles: China, or to be more precisely, yuan, the currency of China.
III. Definiton of exchange rate
• Task 1: Try to describe this exchange rate in English
IV. Definitons of two exchange rate systems
• the fixed exchange-rate: • Under the pegged exchange-rate, the rate between one currency and
exchange market • responding quickly to changing market forces and clearing the market of
shortage or surplus of a given currency • (2) continuous adjustment • (3) independent of domestic policies • (4) reduced need for international reserves.
• Please describe the exchange rate in English: • Now the Renminbi's exchange rate against the U.S. dollar is at 6.83. That
means in order to buy $1, 6.83yuan is needed.
but also bad for foreign companies investing in China
VII. Language Application: Translate the following into English
• 5. 中国政府已经决定，为了中国的自身利益和在中国的外国投资者
VII. Language Application: Translate the following into English
• 3. 在浮动汇率制中，中央银行也可能在有必要确保稳定和避免通货 膨胀时进行干预.
• 意群提示：管理体制（regime); 稳定（stability); 通货膨胀（inflation） • In a floating regime, the central bank may also intervene when it is
V. Opinions for and against floating exchange rate
• Opinions against floating exchange rate: • (1) disorderly exchange markets • (2) reckless financial policies on the part of governments • (3) conduciveness to price inflation
• 在过去三年中，由于高失业率，美国遭受了很多损失。 目前，美国 政客和商人为他们的麻烦找到了替罪羊：中国，或更准确地说，人 民币是中国的货币。
• 2. The key issue is the value of the renminbi. Beijing has adopted the approach of letting renminbi be pegged to the dollar. Critics point out: by doing this way the renminbi is undervalued about 40%
国际储备： international reserves 中央银行： central bank 贸易顺差： trade surplus 贸易逆差： Trade deficit 国际收支： blance of payments
III. Definiton of exchange rate
• Exchange rate or rate of exchange means price of one currency in terms of another. It is normally expressed in terms of how many units of the home country's currency are needed to buy one unit of a foreign currency.
necessary to ensure stability and to avoid inflation • 4. 使人民币大幅升值，不仅对中国经济不利，对在中国进行投资的
外国公司也不利 • A sharply revalued Renminbi is not only bad for the Chinese economy,
I. New words/ English to Chinese
• concern • disorderly • utilize • reckless • consequently • conduciveness • pegged • conversely • quarter-century
wenku.baidu.com
II. Economic terms/ Chinese to English
foreign reserves. This is a reserved amount of foreign currency held by the central bank that it can use to release (or absorb) extra funds into (or out of) the market. This ensures an appropriate money supply, appropriate fluctuations in the market (inflation/deflation) and ultimately, the exchange rate. The central bank can also adjust the official exchange rate when necessary.
的利益要使人民币汇率保持基本稳定
• The Chinese government has decided to keep the RMB exchange rate
basically stable China's own interests and
foreign
investors in China.
in foreign exchange market. Currency prices are determined by market forces.
V. Opinions for and against floating exchange rate
• Opinions for floating exchange rate: • (1)Simplicity • being sensitive to supply and demand conditions in the foreign
another is fixed and maintained by the government.
• the floating exchang-rate: • Under the floating exchange-rate, nations allow their currencies to float
VI. Critical thinking
• (3) Why China is increasing its foreign exchange reserves? • Because the yuan would appreciate significantly against the greenback if
Exchange Rate and International Trade
内容目录
• I.New words • II.Economic terms • III. Definiton of exchange rate • IV. Definitons of two exchange rate systems • V. Opinions for and against floating exchange rate • VI. Critical thinking • VII. Language application: Translation • VIII. More discussion questions
汇率： exchange rate 外币： foreign currency/ foreign exchange 固定汇率： fixed exchange-rate 浮动汇率： floating exchange-rate 外汇市场： foreign exchange market
II. Economic terms/ Chinese to English
VI. Critical thinking
• (1) Is China a floating exchange rate? • (2) Why Chinese central bank has a large foreign exchange reserve? • (3) Why China is increasing its foreign exchange reserves?
VII. Language Application: Translate the following into English
• 1. 现实情况下，没有一种货币是完全固定或者浮动的。 • In reality, no currency is wholly fixed or floating.
• 2. 有时，当固定汇率无法反映货币真实价值时，可能会形成“黑市” （更能反应实际的供需）。
• 意群提示：反应（be refelctive of) • Sometimes, when a local currency reflects its true value against its
pegged currency, a "black market" (which is more reflective of actual supply and demand) may develop.
VI. Critical thinking
• (2) Why Chinese central bank has a large foreign exchange reserve? • In order to maintain the rate, the central bank must keep a high level of
VII. Language Application: Translate the following into Chinese
• 1. The U.S. has suffered a great deal in the past three years due to high unemployment. At present, American politicians and businessmen have found a scapegoat for their troubles: China, or to be more precisely, yuan, the currency of China.
III. Definiton of exchange rate
• Task 1: Try to describe this exchange rate in English
IV. Definitons of two exchange rate systems
• the fixed exchange-rate: • Under the pegged exchange-rate, the rate between one currency and
exchange market • responding quickly to changing market forces and clearing the market of
shortage or surplus of a given currency • (2) continuous adjustment • (3) independent of domestic policies • (4) reduced need for international reserves.
• Please describe the exchange rate in English: • Now the Renminbi's exchange rate against the U.S. dollar is at 6.83. That
means in order to buy $1, 6.83yuan is needed.
but also bad for foreign companies investing in China
VII. Language Application: Translate the following into English
• 5. 中国政府已经决定，为了中国的自身利益和在中国的外国投资者
VII. Language Application: Translate the following into English
• 3. 在浮动汇率制中，中央银行也可能在有必要确保稳定和避免通货 膨胀时进行干预.
• 意群提示：管理体制（regime); 稳定（stability); 通货膨胀（inflation） • In a floating regime, the central bank may also intervene when it is
V. Opinions for and against floating exchange rate
• Opinions against floating exchange rate: • (1) disorderly exchange markets • (2) reckless financial policies on the part of governments • (3) conduciveness to price inflation
• 在过去三年中，由于高失业率，美国遭受了很多损失。 目前，美国 政客和商人为他们的麻烦找到了替罪羊：中国，或更准确地说，人 民币是中国的货币。
• 2. The key issue is the value of the renminbi. Beijing has adopted the approach of letting renminbi be pegged to the dollar. Critics point out: by doing this way the renminbi is undervalued about 40%
国际储备： international reserves 中央银行： central bank 贸易顺差： trade surplus 贸易逆差： Trade deficit 国际收支： blance of payments
III. Definiton of exchange rate
• Exchange rate or rate of exchange means price of one currency in terms of another. It is normally expressed in terms of how many units of the home country's currency are needed to buy one unit of a foreign currency.
necessary to ensure stability and to avoid inflation • 4. 使人民币大幅升值，不仅对中国经济不利，对在中国进行投资的
外国公司也不利 • A sharply revalued Renminbi is not only bad for the Chinese economy,
I. New words/ English to Chinese
• concern • disorderly • utilize • reckless • consequently • conduciveness • pegged • conversely • quarter-century
wenku.baidu.com
II. Economic terms/ Chinese to English
foreign reserves. This is a reserved amount of foreign currency held by the central bank that it can use to release (or absorb) extra funds into (or out of) the market. This ensures an appropriate money supply, appropriate fluctuations in the market (inflation/deflation) and ultimately, the exchange rate. The central bank can also adjust the official exchange rate when necessary.
的利益要使人民币汇率保持基本稳定
• The Chinese government has decided to keep the RMB exchange rate
basically stable China's own interests and
foreign
investors in China.
in foreign exchange market. Currency prices are determined by market forces.
V. Opinions for and against floating exchange rate
• Opinions for floating exchange rate: • (1)Simplicity • being sensitive to supply and demand conditions in the foreign
another is fixed and maintained by the government.
• the floating exchang-rate: • Under the floating exchange-rate, nations allow their currencies to float
VI. Critical thinking
• (3) Why China is increasing its foreign exchange reserves? • Because the yuan would appreciate significantly against the greenback if
Exchange Rate and International Trade
内容目录
• I.New words • II.Economic terms • III. Definiton of exchange rate • IV. Definitons of two exchange rate systems • V. Opinions for and against floating exchange rate • VI. Critical thinking • VII. Language application: Translation • VIII. More discussion questions
汇率： exchange rate 外币： foreign currency/ foreign exchange 固定汇率： fixed exchange-rate 浮动汇率： floating exchange-rate 外汇市场： foreign exchange market
II. Economic terms/ Chinese to English
VI. Critical thinking
• (1) Is China a floating exchange rate? • (2) Why Chinese central bank has a large foreign exchange reserve? • (3) Why China is increasing its foreign exchange reserves?
VII. Language Application: Translate the following into English
• 1. 现实情况下，没有一种货币是完全固定或者浮动的。 • In reality, no currency is wholly fixed or floating.
• 2. 有时，当固定汇率无法反映货币真实价值时，可能会形成“黑市” （更能反应实际的供需）。